Blockchain adoption for supply chain management in Switzerland
U.S. aerospace and defense contractor Lockheed Martin has signed an agreement with SyncFab to streamline supplier capabilities across Switzerland, showing another remarkable use case for blockchain technology.
SyncFab, a Silicon Valley distributed manufacturing platform, will provide direct access to its parts accession and supply chain platform to Lockheed Martin under the new agreement, which is built on top of the company's blockchain.
The secure supplier intelligence platform connects Original Equipment Manufacturers (OEMs) to Swissmem members, allowing OEMs to match with suppliers across Switzerland.
The platform essentially is working as a matchmaker between OEMs and subject matter experts, allowing the experts to compete for long-term logistics opportunities with larger companies.
Swissmem represents Switzerland’s mechanical and electrical engineering industries. So-called MEM industries account for roughly 1/3 of the country’s exports.
Jeremy Goodwin, SyncFab’s founder and CEO, said on this new partnership:
“SyncFab is honored and privileged to work with Lockheed Martin in our mission to expand access and digitally transform Swiss Industrial Supply Chains in partnership with Swissmem.”
SyncFab was launched in 2013 and since then has secured several high-profile partnerships over the years.
Supply chain management is the industry which is one of the biggest use cases of and influential for blockchain technology.